Spot rubber rules steady

Print this page Posted on : 07-04-2009 by recycleinme.com

The physical rubber prices closed steady on Friday. Supply concerns and imports were the two major factors which dominated the market mood and most of the traders preferred to stay back waiting for a clear trend to set in.

Sheet rubber closed unchanged at Rs 98 a kg amidst scattered transactions. The volumes were low.

Futures decline

In futures, RSS 4 declined at its July contract to Rs 96.60 (97.46), August to Rs 93.39 (94.32), September to Rs 90.20 (91.46) and October to Rs 89 (90.35) a kg on National Multi Commodity Exchange (NMCE).

The July futures for RSS 3 concluded at ?160.4 (?157.9) (Rs 80.14), August at ?159.2 (?157.2), September at ?157.8 (?155.3), October at ?155.8 (?155.4), November at ?156 (?156.2) and December at ?157.7 (?157.9) a kg during the day session on TOCOM.

The grade closed consecutively at ?158.6 (Rs 79.24), ?159.4, ?159.4, ?156.2, ?155.5 and ?157.8 a kg during the night session. RSS 3 moved down to Rs 79.90 (80.49) a kg at Bangkok. The grade closed weak at Rs 79.46 (80.34) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 98 (98); RSS-5: 96 (96); ungraded: 93 (93); ISNR 20: 90.50 (90.50) and latex 60 per cent: 88 (88).

Source : Business Line